automatic chart pattern drawers for MT4? - Page 4
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Thread: automatic chart pattern drawers for MT4?

  1. #31
    Quote Originally Posted by ;
    Well, I'm not trying to be clever here, but for a chart to be genuinely random it would have no time component and could have unlimited range.
    Hmm, I think maybe you're trying to be smart. A coin does not have a'time element' and certainly does not have an'infinite range', and yet a coin flip remains random. Doesn't it have these properties? Because it has clearly defined constraints.... As do markets. Let's assume that the markets truly are'random'. This does not require what you said. A market has constraints, and a random market has the same constraints. You can not state a market is NOT random only because it does not have a bid/ask of infinity / infinity.

    Quote Originally Posted by ;
    Completely useless for a trading egy.
    I touched on trading egies, and don't mean to. So that the talk of egies is beside the point and a different discussion altogether.

    Quote Originally Posted by ;
    I agree that some kinds of chart pattern are more practical than others and it will depend on how it's defined. I don't feel they work only because they do. The clearer the pattern, the better it works, in general.
    If you've got enough evidence to prove this then excellent. Most individuals don't, and you might not. I just don't understand or even care if you do because again it's not exactly the point.

    Quote Originally Posted by ;
    Take one of the easiest and most common chart patterns, which can be consolidation after a sustained move. It is very simple to envisage exactly what the market is performing here. It is a very simple pattern which occurs because there is a market. It could appear in a randomly generated chart with time since the x and a random value as the y but most unlikely, although time is this a constant parameter.
    Not at all improbable.

    Quote Originally Posted by ;
    The more a pair consolidates, the more sustained the transfer is after that consolidation. This is a high likelihood. I did the job. That leads me to believe flags, pennants and triangles all work, more often than not. I find it quite difficult to comprehend why some other chart patterns (and I'm including candlesticks within this respect ) work, but again, the simpler ones like engulfing, snare bars and so on are fairly obvious, although the context is as important as the pattern.
    The context.... So not the'chart pattern'. This is also sounding like a subjective observation. I have seen plenty of'consolidations' that broke-out.... To nowhere. It works both ways. Maybe, just perhaps, more one way than other, but that is a different conversation.

    Quote Originally Posted by ;
    Market plogy produces these patterns, bubbles, exhaustion spikes, what have you, and you may even see it on those threads when people say something like It is like watching paint dry, I'm closing my longs and moving to... Guess what? Bull flag. I will be seeing that, even if you aren't, and I will wait until it breaks, preferably with an engulfing bullish candle.
    Randomness also produces these patterns, as does a deliberately made chart.

    It is all well and good to say you've got proof of whatever. My post was not for you . You also seem to have grossly different notions of what constitutes random and what random can, and does, produce.

    All I especially care about right now is for someone to show me a chart that does not possess'chart patterns'. Everything else is only going to result from the normal back and forth claiming that I care not to spend some time on at the moment, and is all just not the point I was making.

  2. #32
    Quote Originally Posted by ;
    hmm, I think maybe you're attempting to be smart. A coin doesn't have a'time element' and certainly doesn't have an'infinite range', and a coin flip is still arbitrary. Doesn't it have these properties? Because it has clearly defined constraints.... As do markets. Let's assume that the markets are'arbitrary'. This doesn't need what you mentioned. A market has constraints, and a random market has the same constraints. You can not state a market isn't random only because it doesn't have a bid/ask of infinity / infinity.

    I touched...
    OK, well thank you for your time and stimulating debate and you're both right, I'm missing the point. Probably deliberately, though truthfully I really don't know why. I really do see your point about what arbitrary can create, but because I really don't see a value there, aside from drawdown on the market circumstance. All the very best to you and have a great Christmas

  3. #33
    Quote Originally Posted by ;
    OK, well thank you for your time and stimulating debate and you're both right, I'm missing the point. Probably deliberately, although truthfully I do not know why. I do see your point about what random could create, but since I really don't see a value there, aside from drawdown on the market context. All the best to you and have a good Christmas
    I'm just throwing a wrench in the works of a chart pattern faith. Nothing more. You have a certain perspective and that is cool.

  4. #34
    The markets arent random, disorderly yes however def. Not arbitrary

    Do you think that there is a random result on price if you can find more buyers then sellers?

  5. #35
    Quote Originally Posted by ;
    the Circumstance.... So not the'chart pattern'. Additionally, this is sounding just like a subjective observation. I've seen plenty of'consolidations' that broke-out.... To nowhere. It functions both ways. Maybe, just maybe, more one way than other, but that is another conversation.
    .
    A'fakeout' most probably happens because of the fact that more often then not institutions'fade' breakouts. .
    As they need the liquidity to cancel a positon. . or similar . .

    However, the law of cause and effect holds true to the markets, price doesent move randomly there is always a cause for a change in price


    for me personally ChartPatterns are a by product of the markets activity... nothing more nothing less. .

  6. #36
    Iam all good

    Agree,

    Its all about the nuts and bolts in the end, puttinh as manny Chances as You Possibly Can in your favour and stick to your Strategy then the only random thing that can happen to you is...
    a random distribution on winning and Winning trades

  7. #37
    I doubt anyone can make indiors to draw out those patterns. Due to what I see, people make out any patterns on almost any random price action.
    Just like if I see a'elephant' in the clouds, then you may see a'fat lady'. It is all individual and discretion perspective.

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